I think a lot depends on how you are going to watch them, if you're using PLEX then you lose a lot of quality so it doesn't matter so much. I set up plex but was disappointed with the quality of the resulting movie and replaced it with a Windows box in each room to drive the screens. My main system has a 65" UHD screen and a Windows i7 4K HTPC albeit set at HD1080p most of the time with an Onkyo receiver upscaling 1080p to 2160p as I only have a handful of movies/TV series at 2160p.
I keep some movies at 20-50GB, typically straight rips from BluRay with no further compression (often with Dolby ATMOS sound tracks as my TV room is set up with centre ceiling speakers for that).
I have 2 unRAID servers, one dedicated to BluRay movies with only 1 user share, currently over 12,500 with an average size of 6.1GB but that average size is going up, it's probably 8-9GB per 1080p and 4-5GB per 720p. I am slowly replacing 720p rips with 1080p rips at typically 8-9GB or more if they are blockbusters.
I can see the difference between 720p and 1080p, as for DVD quality, I still have over 4,500 of those on another unRAID server along with a much larger collection of TV series and documentaries. I can't watch DVD rips, the definition is just too bad and the difference between 1080p and 2160p is astounding.
As for quality, a lot depends on the nature of the movie, if there are a lot of dark scenes, that is when you can see the difference with shades of black.